In the Tokyo stock market on the 27th, the Nikkei 225 rebounded and sharply extended its gains after the open. Buying back of AI- and semiconductor-related stocks was concentrated initially against a backdrop of higher U.S. technology stocks.
The Nikkei 225 extended its gains after the open and was trading up ¥757 from the previous day. Buying back of AI-related and semiconductor stocks pushed the market higher.
In the previous day's U.S. market, the Nasdaq Composite rose 0.82% and the SOX Index gained 2.82%. The Dow rose 0.28%, supporting semiconductor-related stocks with a high contribution to Tokyo market indices.
The market environment was conducive to buying on dips following the reaction to 3 consecutive sessions of decline in the Nikkei 225. Expectations that interest in companies with strong earnings and results would increase ahead of the period when first-half earnings announcements by domestic companies with March year-ends get into full swing also supported the downside.
By sector, nonferrous metals, glass and ceramics, and electrical equipment were firm, while real estate, pharmaceuticals and land transportation were relatively weak. Among individual stocks, Advantest and Kioxia Holdings indicated to open higher, while Tokyo Electron also remained firm.